MergerJun 30, 2026, 04:32 PM
Liminatus Pharma Amends InnocsAI Merger, $320M Deal to Close July 2
AI Summary
Liminatus Pharma, Inc. announced an amendment and restatement of its definitive merger agreement with InnocsAI LLC. The transaction has been re-structured to allow closing prior to obtaining stockholder approval, with closing now expected on July 2, 2026. The deal, valued at approximately $320 million, involves InnocsAI equity holders receiving Liminatus common stock and newly designated non-voting convertible preferred stock, along with contingent value rights. This merger is considered a transformational step, expanding Liminatus' oncology pipeline and broadening its development capabilities.
Key Highlights
- Merger agreement with InnocsAI LLC amended and restated.
- Transaction re-structured to close prior to stockholder approval.
- Closing expected on July 2, 2026.
- Aggregate implied transaction value of approximately $320 million.
- InnocsAI equity holders to receive Liminatus common stock and non-voting convertible preferred stock.
- Common stock issuance limited to 19.99% of outstanding shares without prior approval.
- Contingent value rights for 20% of future net proceeds from acquired assets.
- Expected to expand oncology pipeline and provide multiple preclinical candidates.
Price Impact
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